Literature Review Women on boards and in TMTS and firm performance134 Table 5 3 Descriptive sample statistics Event specific variables Number of people affected Percentage layoff Pre crisis Crisis Post crisis Strict labor law Investment banking Branches Reasons for layoffs M A Reorganization Cost Cutting Fall in Demand Poor past performance Other reasons Layoff strategy Proactive reactive Firm specific control variables Total assets USD Assets Employee Sales Employee Personnel Exp Employee Return on equity in Cost income ratio in Employees United States Europe 210 210 44 49 117 59 68 39 30 57 60 22 27 14 109 101 210 210 210 210 210 210 210 79 131 n 2 637 0 031 0 210 0 233 0 557 0 281 0 324 0 186 0 143 0 271 0 286 0 105 0 129 0 067 0 519 0 481 1 347 908 15 700 133 8 88 66 86 120 179 0 376 0 624 Mean 1 000 0 014 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 188 749 14 480 93 9 58 64 2 97 125 0 1 Median 100 0 000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 97 411 2 155 16 43 14 43 03 5 456 0 0 Min 5 514 0 040 0 408 0 424 0 498 0 451 0 470 0 390 0 351 0 446 0 453 0 307 0 336 0 250 0 501 0 501 886 934 10 495 121 12 47 15 94 96 525 0 486 0 486 Std Dev 425 0 004 0 0 0 0 0 0 0 0 0 0 0 0 0 0 625 709 7 391 63 3 68 57 02 33 988 0 0 Q25 2 300 0 042 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 127 539 19 796 133 16 73 12 170 961 1 1 Q75 45 000 0 287 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 777 312 62 3 576 663 49 76 151 89 375 000 1 1 Max This table presents the descriptive sample statistic of my final sample comprising 210 layoff announcements by banks split by event specific variables reasons for layoffs layoff strategy and firm specific variables Number of people affected is the number of employees to be made redundant Percentage layoff indicates the number of redundancies relative to the total workforce Pre Crisis comprises events in the time frame before the financial crisis that is January 2004 to November 2007 Crisis is the number of events that occurred during the recent global financial crisis and is defined as the time period from December 2007 to June 2009 see also National Bureau of Economic Research 2010 Layoffs and shareholder wealth

Vorschau DIRK-Forschungsreihe Band 21 Workforce diversity and personal policies Seite 134
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